IC Markets vs London Capital Group (LCG) - Fees Review included
Which broker is better IC Markets or London Capital Group (LCG)? Our expert assessment conducted according to TU’s own methodology showed that IC Markets is one of the top brokers in the financial market with the TU Overall Score of 8.62 out of 10. London Capital Group (LCG) is one of the top brokers in the financial market with the TU Overall Score of 4.85 out of 10. Find out more about TU Overall Score.
Feature | IC Markets | London Capital Group (LCG) |
---|---|---|
Overall |
4.7 |
2.9 |
5 |
4.3 |
|
4.9 |
4 |
|
4.6 |
3.1 |
|
Investment Instruments |
4.9 |
1 |
Platforms and Charting Tools |
4.4 |
2.9 |
Deposit and Withdrawal |
4.6 |
2.5 |
Research |
4.3 |
3.6 |
Education |
4.4 |
3.3 |
Support |
4.6 |
2.9 |
Bonuses |
2.5 |
2 |
|
IC Markets vs London Capital Group (LCG): Pros and Cons
IC Markets Trading Company was founded in 2007 in Sydney, Australia. The broker is licensed under the Australian Financial Services License (AFSL) and the Australian Securities and Investment Commission (ASIC). The broker is also a member of the Australian Financial Complaint Authority (AFCA), the governing body that sets the industry standard for the resolution of disputes between consumers and financial service providers, and regularly undertakes audits.
The LCG broker is an international intermediary that started its business in 1996. Traders who have opened an account with LCG have access to 9 groups of trading assets, including: Forex, spot metals, stocks, indices, ETFs, CFDs, stock options, bonds, interest rates, and commodities. The minimum deposit requirements make trading with LCG affordable, and the use of innovations and high-quality service make it comfortable.
IC Markets | London Capital Group (LCG) | |
---|---|---|
Overall Pros | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | Low minimum deposit requirements |
Advanced ECN trading | A wide range of trading instruments | |
Order execution speed 40 mc | An information section with training and analytical materials | |
Free VPS | Round-the-clock support service | |
Trading servers in New York and London | No commission for funding the deposit and withdrawal funds | |
Strong regulation | The possibility to trade from different devices such as a PC, tablet, or smartphone | |
2000+ trading assets, 60+ currency pairs | The presence of Islamic accounts | |
EURUSD Average spread 01 pip | ||
Overall Cons | No forex bonuses | The company does not provide offers for passive earnings such as copying services or bonus programs |
World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | The broker does not serve clients from certain countries | |
Customer support doesn’t work on weekends |
IC Markets vs London Capital Group (LCG): Safety and Regulation
Regulated By: | IC Markets | London Capital Group (LCG) |
---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
AFCA (Australia) |
No |
Other Regulators |
Yes |
SCB (Securities Commission of the Bahamas) |
IC Markets vs London Capital Group (LCG): Trading Conditions
Trading Conditions | IC Markets | London Capital Group (LCG) |
---|---|---|
Minimum Deposit |
$200 |
$10 |
Trading Platforms |
MT4, MT5, cTrader |
MetaTrader 4, LCG Trader |
Max Leverage (Futures) |
1-500 |
1-500 |
Supported Markets |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Currency pairs, indices, spot metals, stocks, commodities, CFDs, exchange traded options, ETFs, bonds and interest rates |
Trading assets |
2000+ |
7000+ |
Trading Accounts |
cTrader, Raw Spread, Standard |
Classic, ECN, demo |
Base Account Currencies |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
USD, GBP, EUR, and CHF |
IC Markets vs London Capital Group (LCG): Fees
Forex Trading Fees
Fee | IC Markets | London Capital Group (LCG) |
---|---|---|
Standard Account EURUSD Average Spread |
0.62 pips |
1 pip |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
$0 |
ECN Account EUR Average Spread |
0.02 pip |
0.4 pips |
CFD Trading Fees
Fee | IC Markets | London Capital Group (LCG) |
---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
Fee | IC Markets | London Capital Group (LCG) |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
Credit card 2%, Debit Card 0%, other methods are comission-free |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
IC Markets vs London Capital Group (LCG): Trading Assets
Asset Name | IC Markets | London Capital Group (LCG) |
---|---|---|
Overall |
2000+ trading assets |
7000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
Yes (CFDs) |
Bonds |
Yes (CFD) |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes (CFD) |
No |
Binary Options |
No |
No |
IC Markets or London Capital Group (LCG): Investment Programs
Asset Name | IC Markets | London Capital Group (LCG) |
---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: London Capital Group (LCG) or IC Markets
IC Markets | London Capital Group (LCG) | |
---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
Yes |
No |
Appropriate platform |
IC Markets terminal |
LCG Trader |
Others |
No |
No |
|
IC Markets vs London Capital Group (LCG): Deposit and Withdrawal Methods
Deposit and Withdrawal Method | IC Markets | London Capital Group (LCG) |
---|---|---|
Bank Transfer |
Yes |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
IC Markets vs London Capital Group (LCG): Research
Research Type | IC Markets | London Capital Group (LCG) |
---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
IC Markets vs London Capital Group (LCG): Education
Education Type | IC Markets | London Capital Group (LCG) |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
No |
No |
London Capital Group (LCG) vs IC Markets: Support
Support Features | IC Markets | London Capital Group (LCG) |
---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
No |
Other |
No |
No |
IC Markets vs London Capital Group (LCG): Forex Bonuses and Promo
Promo | IC Markets | London Capital Group (LCG) |
---|---|---|
Forex Bonus |
Not offered |
No |
Affiliate Program |
% of trading commissions |
The broker’s clients can earn additional income by referring new users to LCG. The company provides program participants with personal referral links and marketing materials, and you can track the activity of invited users from your personal account. The maximum payout is 800 USD. |
Other Promos |
||
|
Top 5 Reviews on London Capital Group (LCG)
-
Comment
I've been thoroughly impressed with my experience using the LPGInvestments.com website. Not only have I found it user-friendly, but it has also delivered excellent results. With multiple successful withdrawals under my belt, I can attest to its reliability. Watching my investments thrive has been incredibly rewarding. Recently, I diversified my portfolio by adding Mineral Resources mining, and it's been an exciting journey to monitor its performance alongside my other assets. I confidently recommend LPG Investments to anyone seeking a platform for diverse and promising investment opportunities. I eagerly anticipate further growth in my portfolio as I continue to utilize this platform.
-
Comment
Despite the negative reviews, I work normally with LCG Group. Any situation can happen. For example, recently there was slippage when a stop loss was triggered by 10 pips. It’s not very pleasant, of course, but it doesn’t affect my trading much. I traded with another broker before and it wasn’t not very successful. Slippages were 35-50 pips there. This is already serious. Orders on the LCG Group platform are processed quickly, there are practically no requotes.
-
Comment
I had $4,000 in my London Capital Group account. Two weeks ago, I received a notification that access to my user account was blocked due to suspicions of money laundering, citing one of their policies. I asked to close open positions, but my request was ignored. Now I fear that there is almost nothing left of my deposit. Be careful when considering opening an account with London Capital Group.
-
Comment
LCG disappointed me as soon as I registered here. Actual conditions do not correspond to those promised on the website. When I asked support about that, they told me that the broker can change the conditions at its discretion, and their answer wasn’t polite. I think this is not normal. Therefore, I left the company.
-
Comment
Several times my stop loss did not work on the LCG platform. I wrote to support, but they didn’t solve anything. I definitely set the stop loss, but it is not in the history. Either LCG manipulates such situations, or there are bugs on the broker’s platform. I never trade without a stop loss; I always limit my risks.
Top 5 Reviews on IC Markets
-
Comment
I decided to use the services of IC Markets not long ago. Now I think that not all negative reviews are justified. This is a good broker and I have already withdrawn profits several times, everything went without problems. IC Markets’ rates differ from those of other brokers. But you can adapt to this problem.
-
Comment
I initially paid $3000 to start with and an account manager demonstrated a growth of $500 in quick time. A specialist then came in and tried to get me to invest $25000 to which I bluntly denied and they tried with $20K, then $10K and even $5K to all of which I refused! They have now kept me hanging and I asked for a refund to which they are asking for more money from me and I don't know what more to do! Also as of yesterday, the site itself is DOWN!! I cannot log in anymore and the email contact i had from there, when i sent the email to check it came back saying that domain does not exist anymore!! I am at loss of words and my hard earned money unfortunately i was able to recover my money back with the help of Olivia teams get in touch with them oliviatrader 44 at gmail com WhatApp +1 (423) 248 - 2140
-
Comment
I was looking for a reliable broker and noticed the long existence and good reputation of ICMarkets. Moreover, my friend, who has been trading for a long time, recommended contacting them. After several years, I have become a more experienced trader and I am satisfied with the work of the broker.
-
Comment
I have been trading with IC Markets for some time now and I can draw some conclusions. The platform works stably, which indicates a serious approach to its work. Spreads are quite optimal, although for cryptocurrencies they are higher than average as compared to those of its competitors. Slippages occur, there is nothing you can do about it. But there are no problems with requotes at all. In general, I think it’s possible to rate IC Markets “good”.
-
Comment
There are many advantages to IC Markets broker. First, of course, is the presence of a license from a reputable regulator. Accounts can be opened for citizens of many countries. Second, the platform works very well. Order execution speed is high, and you can actively trade manually or with the help of an advisor. I am quite satisfied with IC Markets as a broker.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.